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Newspaper ad revenues continue to fall and at a pace not seen since the Depression. The New York Times reports that Q3 ad revenues are expected to be 25% below the same period a year ago.
The drop in combined print and digital ad revenue last year, 16.6 percent, according to the Newspaper Association of America, was the worst since the Depression. But it looks rosy next to 2009, when revenue fell 28.3 percent in the first quarter and 29 percent in the second.
Newspapers Have Not Hit Bottom, Analysts Say - NYTimes.com
Foremski's Take: This is bad news for newspaper companies because they have already made many cuts in staff and other expenses. There isn't much more they can do.